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  #1  
Old 08-28-2013, 12:46 PM
jtrollin jtrollin is offline
 
Join Date: Aug 2008
Location: Leesburg, va
Posts: 213
Default 40 hour fly off insurance

So I am getting close to finishing my plane, but can't seem to find an insurer that will cover me for the first 40 hours.

Has anyone else had this issue, if so what did you do.

I see my options are:
Just fly and "self insure"
spend $15000 renting a plane to get the extra 100 hours they want (I have 160 hours tt)
Maybe move the plane under a corporation to remove personal liability (not sure if this would even work).

Sucks speending 5 years building a plane and not be able to fly it without risking all my assets.

thanks,
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RV-10
http://websites.expercraft.com/jtrollin/
Phase 1 Complete
Vans Builder Number: 40923
798HJ Reserved
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  #2  
Old 08-28-2013, 01:48 PM
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9GT 9GT is offline
 
Join Date: Jan 2010
Location: Southern Michigan
Posts: 1,966
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Your not as close to flying as you think. Ask me how I know. You most definitely want to have your plane insured for full coverage unless you are financially able to handle a worst case scenario. If you need an additional 100 hours before the insurance company will cover you, that is a good excuse to take the time out and get it done. Perhaps use that time to get your high performance rating (you need that for the -10) and maybe your IFR rating if you don't have those.
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Howell, MI
RV-10: #41686 Under Construction
RV-9A: #90949 Under Construction
RV-10: #40637 Completed/Sold 2016
Cozy MKIV:#656 Completed/Sold 2007
"Donor Exempt" but donated through Dec. 2020
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  #3  
Old 08-28-2013, 01:53 PM
VETE76 VETE76 is offline
 
Join Date: Feb 2007
Location: syracuse ny/venice fl
Posts: 623
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i have a lot of tail dragger time and went to aopa for my rv7 . hey required 1 hr in rv7 and i got full coverage. i only have total time 400hrs 150 tail dragger.
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  #4  
Old 08-28-2013, 02:06 PM
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rleffler rleffler is offline
 
Join Date: Jun 2006
Location: Delaware, OH (KDLZ)
Posts: 4,196
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Myself and another local RV-10 builder just got burnt by Agressive leaving the market. My friend is in the same boat as you. Some of the quotes I heard he got were outrageous.

I have 350 hours plus an IFR rating. There are still quite a few companies that won't insure the first flight or Phase I. This means that I have aout two months to get Phase I completed. With my work schedule it will be tough, but feasible if the weather cooperates. If I can complete Phase I before having to switch insurance, I'll save $2k. My rates quotes were all over the map from $3.1k to over $7k.

bob
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  #5  
Old 08-28-2013, 02:16 PM
terrykohler terrykohler is offline
 
Join Date: Jan 2005
Posts: 1,009
Default Are Your Referring to Hull Insurance or the Whole Enchilada

If I recall, when I first launched in '04, the liability was covered but not the hull. Seems like the insurance companies have figured out that if something bad is going to happen, it's going to be in the first few hours. At that time, my PIC time wasn't an issue, but I still needed 4-5 hours of transition in make and model to get the liability covered.
Ask the carriers you're looking at what they really want/need to provide (any) coverage. Perhaps the best thing to do is have someone else with strong credentials do the flight testing for you. If you do it right, there's still an awful lot of work to do after each test flight and you'll benefit from being (hopefully) more relaxed while you inspect and debrief. Good luck.
Terry, CFI
RV9A N323TP
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  #6  
Old 08-28-2013, 02:38 PM
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N941WR N941WR is offline
 
Join Date: Jan 2005
Location: SC
Posts: 12,887
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Ask the insurance company if hiring a test pilot for the first X number of hours could reduce the insurance rate and allow for first flight coverage.

Also, did you have tech and first flight advisors involved from your local EAA chapter? I did and they took that into consideration.

Also, I had about 350 TT with 150 tailwheel in a bunch of different planes before making my first flight. All that contributed to a three hour "in any side-by-side RV" requirement.

Talk to them, see what they want. Maybe 10 hours with Mike S. will get you qualified.
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RV-9 (Yes, it's a dragon tail)
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  #7  
Old 08-28-2013, 02:44 PM
jtrollin jtrollin is offline
 
Join Date: Aug 2008
Location: Leesburg, va
Posts: 213
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I already have my instrument rating, high performance and transition training. If I tried to get another 100 hours of flight time I might as well moth ball my 10 as it would take another 2 years to build up that time renting a plane.

Just really frustrated by this, never thought I would be uninsurable in my plane. I have not tried aopa yet, maybe I will give them a call and see what they can do.
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RV-10
http://websites.expercraft.com/jtrollin/
Phase 1 Complete
Vans Builder Number: 40923
798HJ Reserved
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  #8  
Old 08-28-2013, 02:49 PM
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jestes jestes is offline
 
Join Date: Mar 2008
Location: Saint Peters, MO
Posts: 59
Default Insurance during the test phase period

Normally for lower time guys like yourself, for the RV-10 you would need to be placed with a transitional insurance company and these companies do not cover the test phase period. One company may give you liability coverage while flying during the test phase period but not physical damage coverage while flying. There are 4 insurance companies that WILL cover the entire test phase period in full if the pilot is qualified. For the RV-10's most carriers want the pilot to have 200 to 250 total hours. If the pilot is under this than they may decline to quote the risk. You could place another higher time pilot on the policy to fly off all the hours and than if the insurance company approves of this pilot this would now be covered. Then you can build up your total hours in another aircraft to qualify for the insurance. If its too expensive to build up your hours renting another aircraft then once the hours are flown off you can then be placed with one of the transitional insurance companies. You may not get to fly the hours off your aircraft but this may be your only option for now to have the plane covered during the phase one testing period.

Please feel free to contact me if you have any other questions.

Jenny Estes
NationAir Aviation Insurance
877-475-5860
jestes@nationair.com
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  #9  
Old 08-28-2013, 07:41 PM
Wayne Gillispie Wayne Gillispie is offline
 
Join Date: Apr 2009
Location: USA
Posts: 1,499
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In 11/2011 there was one that covered me during phase 1 at around 150 TT/VFR. They no longer do. One thing that might have helped me is that I continued to rent 172's while building(1-2 hrs/mo.). Upon renewal late last year, we went with Jenny and highly recommend her.
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  #10  
Old 08-29-2013, 07:25 AM
Rupester Rupester is offline
 
Join Date: Dec 2005
Location: Mahomet, Illinois
Posts: 2,195
Default Phase I Insurance

I first flew my bird a year ago. I got my insurance thru Jenny at Nationair. At that time, she told me there were only three insurers that would cover an RV during the flyoff period.
The insurance was more expensive than I had expected (but at least I got it!) Jenny said the premium would drop the first time I renewed after completing Phase I. I'll find that out very soon.
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